No. 40



ABC Votes Not To Pay Dividend Despite Profits Increase Of 10.5%

Following its general meeting held on 23 June in Manama the members of Bahrain-based Arab Banking Corporation (ABC) have announced that the bank will retain all its earnings from 1995 and will not pay a dividend. In 1994 and 1993, ABC paid a dividend of $60mn and in 1992 $50mn. In a statement, the bank said that ABC's board of directors perceived the need to strengthen the group's...